Dialog Semiconductor Plc (DLGNF.PK,DLGS), a provider of highly integrated power management, AC/DC power conversion, charging, and low power connectivity technology, announced Thursday that it has signed a definitive agreement to acquire privately-held Silego Technology Inc., a provider of Configurable Mixed-signal ICs or CMICs.

The acquisition is for a cash payment of $276 million with additional contingent consideration of up to $30.4 million.

The transaction is expected to be accretive to Dialog's underlying earnings per share for full calendar year 2018 and accretive to Dialog's gross margin. The transaction is projected to close in the fourth calendar quarter of 2017, subject to customary closing conditions.

Santa Clara, California-based Silego, with approximately 235 employees worldwide, is a major player in CMICs that integrate multiple analog, logic, and discrete component functionality into a single chip, Dialog noted. Silego anticipates achieving over $80 million of revenue in 2017 and double-digit growth in 2018.

The company expects the acquisition of Silego to complement its market leadership by increasing Dialog's content at existing customers and expanding its customer base.